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Pine Labs profit rises more than sixfold as digital payments demand strengthens

Indian fintech company Pine Labs reported second-quarter profit of 385.7 million rupees, up from 59.7 million rupees a year earlier, as demand for digital payments and payment terminals increased.

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Oct 29, 2026 - 20:24

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Pine Labs branding displayed on a smartphone; contextual company image. Image: ETMarkets.com.

Pine Labs profit rises more than sixfold as digital payments demand strengthens

Indian fintech company Pine Labs reported a more than sixfold increase in second-quarter profit, helped by stronger demand for digital payment services and payment terminals.

Profit and revenue increase

Consolidated profit reached 385.7 million rupees ($4.05 million) in the quarter ended September, compared with 59.7 million rupees a year earlier, according to company results reported by Reuters. Revenue from operations rose 24% to 8.06 billion rupees.

The company’s digital infrastructure and transaction platform, its largest segment by revenue, recorded 20.8% revenue growth. The segment is primarily monetised through subscriptions and transaction fees.

Mid-market terminals and UPI opportunity

Pine Labs said demand for its payment terminals strengthened in the mid-market, where digital checkout points grew 49% year on year. More than 500 million people use India’s Unified Payments Interface, or UPI, for purchases ranging from everyday spending to higher-value goods.

The company also said it could benefit from the government’s proposed framework for a 0.4% merchant charge on UPI transactions above 2,000 rupees. Pine Labs said nearly two-thirds of its UPI gross transaction value comes from transactions above that threshold.

Pine Labs’ official website describes its business as covering in-store and online payments, prepaid products, credit processing and fintech infrastructure, including UPI-related services.